Financial education

Financial education is an essential component to make consumers more accountable, as it offers understanding as regards how to manage personal finances, with a view to avoid risks and a possible financial exclusion. This is a key element to rebuild consumers’ trust in the banking sector. In the context of the effects of the economic and financial crisis, European regulators focus on drawing up norms stipulating more consumer protection via enhanced awareness. Taking into account the fact that financial education and providing access to basic banking services represent priorities for Romanians, and considering the capacity of European citizens and the intention to create an integrated market for financial services, starting national programmes by involving the state is a must, a situation which would lead to an adequate understanding of financial and banking issues. The banking community of Romania supports the initiatives and actively contributes to improving the level of consumers’ financial and banking education.

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